Insurance

Overview

India's life insurance sector is the biggest in the world with about 360 million policies which are expected to increase at a CAGR of 12 to 15% over next 5 years. The insurance industry plans to hike its penetration levels to 5% by 2020. The countries insurance market is expected to quadruple in size over next 10 years from its current size of USD 60 billion. With such a phenomenol growth, the industry has its own challenges which are summarized below:

Challenging economic times,

Increased expectations from Consumers,

Shrinking revenue

Skyrocketing expenses

Pressing regulatory changes, and

Increased competition for market share

Focus On

Focus on operational efficiency and expense control across the value chain